Rakesh Jhunjhunwala Net Worth: Share market veteran Rakesh Jhunjhunwala has broken all the records of earning through investment in the market.
Rakesh Jhunjhunwala, who started in the stock market Net Worth with an investment of just Rs 5000, is the owner of thousands of crores today. At the same time, after investing in the stock market,
Rakesh Jhunjhunwala is now going to enter the airline business. Rakesh Jhunjhunwala’s father was the Income Tax Commissioner in Bombay and Rakesh Jhunjhunwala himself has studied CA. Let’s take a look at Warren Buffett of India who earned as many crores in the stock market as you and I can only imagine in a dream.
When BSE was 150, Jhunjhunwala stepped into the market
Rakesh Jhunjhunwala is called the Warren Buffett of India. Talking about investing in the stock market, Rakesh Jhunjhunwala stepped into it in 1985 when he was in college.
At that time the BSE Sensex was around 150 points. At that time Rakesh Jhunjhunwala started investing in the stock market with just Rs 5000. According to the Forbes report, Rakesh Jhunjhunwala’s total income is currently $ 4.6 billion i.e. Rs 34,387 crore.
Rakesh Jhunjhunwala Tata Tea made its first success
Rakesh Jhunjhunwala’s first big success in the stock market came from the Tata team where he invested five lakh rupees in 1986. He had bought 5000 shares of Tata Tea at a price of Rs 43, which increased to Rs 143 and that too within just three months.
That is, the total amount of investment was almost tripled by Rakesh Jhunjhunwala in just three months.
Earnings after Harshad Mehta scam
During the days of Harshad Mehta, Big Bull dominated the market a lot, but after 1992 when Mehta scam came to light, Rakesh Jhunjhunwala made big money by shorting the stock.
He himself admitted in an interview that he was a member of the beer group and earned a lot from short selling. In that period, two factions ruled the stock market, Bear and Bull.
Black Cobra’s Companion
The Bear group tried to reduce the share price while the Bull group tried to increase it. Manu Manek was known as Black Cobra, among his followers were people like Radhakishan Damania, Rakesh Jhunjhunwala.
But in 1992, when journalist Sucheta Dalal exposed the Harshad Mehta scam, the stock market crashed badly in 1992.
Company formed in wife’s name and in own name
Rakesh Radheshyam Jhunjhunwala was married to Rekha Jhunjhunwala, who was also an investor in the stock market. In 2003, Rakesh Jhunjhunwala started his own company, Rare Enterprises,
which was created with the first word of Rakesh and Rekha. That is, Rare Enterprises. Rakesh Jhunjhunwala himself invests in the stock market under this company.
There is an investment of 19 thousand crores in these companies
Talking about the data till 31st March 2021, Jhunjhunwala has a total of 37 stocks, which includes Titan Company, Tata Motors, Crisil, Lupine, Fortis Healthcare, Nazara Technologies, Federal Bank, Delta Corporation, DB Reality, Tata Communications 19695.3 There is an investment of Rs. He made the biggest investment in Titan Company, in which the total investment is Rs 7879 crore. After this, he has an investment of Rs 1474.4 crores in Tata Motors and Rs 1063.2 crores in Crisil.
Said this thing about the development of the country
Rakesh Jhunjhunwala is quite bullish about the banking sector at the moment. In a TV interview, Rakesh Jhunjhunwala had said that the cost-income ratio of the banks which are inefficient is very high which will fall very fast.
Along with this, he has also expressed the apprehension that India will grow at the rate of 14-15 percent nominal DGP,
while this year the country will grow at the rate of 10-12 percent. Not only this, Jhunjhunwala had said that the epidemic will not have any effect on the stock market. India’s economy is better prepared for such challenges.
